Universal Ibogaine (TSX.V: IBO), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, has announced an offering of up to 66,666,667 shares. The shares will be offered $0.03 per share, which could result in approximately $2 million in gross proceeds. According to the announcement, each unit will include one common share and a one-half common share purchase warrant, with each whole warrant giving the holder the right to purchase an additional UI common share at $0.06 per share; that right will be available for up to one year after the offering closes. UI anticipates using the offering proceeds to complete its ibogaine-based clinical trial application with Health Canada, which would entail finalizing a supply agreement for ibogaine to be used in the eventual trials, as well as for general working capital purposes.
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About Universal Ibogaine Inc.
Universal Ibogaine is a life sciences company with a mission to transform addiction treatment using medicalized ibogaine through a planned Canadian clinical trial focused on opioid use disorder, and ultimately to utilize that protocol globally through planned future licensing agreements. UI is concurrently developing a state-of-the-art holistic addiction treatment protocol at its Kelburn Recovery Centre that, when paired with its planned ibogaine detox protocol, is intended to revolutionize the way addiction is treated and drastically improve the lives of individuals and families affected by addiction. For more information about the company, please visit www.UniversalIbogaine.com.
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